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Press release from CNW Group

Moneta Files Technical Report on Updated Mineral Resource Estimate and Preliminary Economic Analysis for Golden Highway on SEDAR

Wednesday, December 12, 2012

Moneta Files Technical Report on Updated Mineral Resource Estimate and Preliminary Economic Analysis for Golden Highway on SEDAR09:23 EST Wednesday, December 12, 2012TIMMINS, ON, Dec. 12, 2012 /CNW/ - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) (the "Company") announces that it has filed on SEDAR the NI 43-101 compliant and independent technical report titled "Technical Report, Updated Mineral Resource Estimate and Preliminary Economic Assessment of the Golden Highway Project" ("Technical Report") on the Company's 100% owned Golden Highway Project, located east of Timmins.The Technical Report dated December 11, 2012 is available at www.sedar.com and on the Company's website.About MonetaMoneta holds a 100% interest in 5 core gold projects strategically located along the Destor Porcupine Fault Zone in the world class Timmins Camp with over 85 million ounces of past gold production.  Moneta's land position is one of the largest after three gold producers including the highly prospective Golden Highway Project.  The Golden Highway Project covers 12 kilometers of a highly prospective volcanic/sedimentary belt along the Destor Porcupine Fault Zone and currently hosts a NI 43-101 resource estimate of 1,091,000 ounces indicated (31.1 Mt at 1.09 g/t Au) plus 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres. The Golden Highway Project hosts exceptional infrastructure including paved highway access, water, electricity, skilled labor force, and nearby mills.Moneta's public documents may be accessed at www.sedar.com.  For further information on Moneta, please visit our website at www.monetaporcupine.com or email us at info@monetaporcupine.com.SOURCE: Moneta Porcupine Mines Inc.For further information: Ian C. Peres, President & CEO 416-579-3040 (Toronto) 705-264-2296 (Timmins) iperes@monetaporcupine.com